Fixed and Current Assets FICO Certification material

Outline the impact of posting book and tax depreciation within Asset
Accounting on periodic closing activities within General Ledger Accounting.
• Explain how the physical inventory procedure can lead to a G/L posting
• Describe the monthly maintenance of the GR/IR clearing account in MM
• Carry out the analysis of the GR/IR account for year-end closing
• Identify the various year-end valuation methods for work in process and for
material that is procured internally and externally